DuckChain, a New and Exciting Platform for transactions using a blockchain, has reportedly got funding of worth 5 million dollars from several renowned institutions such as Dao5 and Tandem by Offchain labs among others. It’s fair to say that this funding is important for duck Chain as it expands its infrastructure and works towards new capabilities in the growing Web3 ecosystem. Apart from the investment, DuckChain has also announced the Yellow Duck Mission Global Hackathon to focus on out of the box thinking in the finance and DeFi ‘neco- system’.
In a completely new Angle
The 5-million-dollar campaign is only a testament to Duck Chain’s rise to the top. Investors like Dao5 and Tandem by Off chain Labs have provided insight into Duck Chain’s effective model of doing work that seeks to solve pressing issues such as said, supply chain issues, dApps and many others.
A distinguishing mark of this finance round has been Dao5 a prominent venture fund that helps projects look for Decentralized finance initiatives. There is a clear expectance from the Tandem by Offchain Labs since they have worked on so many tools that support large scale concepts and solutions- clearly think DuckChain will do big things.
The steady flow of finance should help DuckChain build its infrastructure, hire the right human resources and enhance the entire organization to set the stage up for many new decentralized applications of the future.
Given that the need for addressing scalability, security and efficiency in blockchain technology solutions continue to grow, DuckChain seems to be on the path of growth as it strengthens its position in the market.
The Beginning of the Yellow Duck Mission Global Hackathon
At the same time as the financing statement is issued, DuckChain has just unveiled the Global Hackathon ‘Yellow Duck Mission’. This competition wants to draw developers, innovators and blockchain enthusiasts from across the globe with a motivation to improve the DuckChain ecosystem and explore creative ways to apply decentralized technologies to relevant use cases.
The catching for the hackathon calls for active and vibrant participation among many people to provide with creative solutions based on the functionality of DuckChain’s blockchain platform. Some of the most important areas of focus of the Yellow Duck vision will include but not limited to DeFi, digital identity, decentralized governance, and blockchain applications in healthcare, supply chains, and finance remote
The event is expected to attract a wide variety of developers from hard core blockchain developers to small children with the desire to show the world what they can do to support the growth of the DuckChain ecosystem. The approach of DuckChain is to promote teamwork to bring up viable and massive ideas that have real life influence, while at the same time promoting awareness of its platform.
So what is the reasoning behind DuckChain?
Among others, DuckChain is different from other blockchain networks on the grounds of emphasis on scalable solutions at zero transaction fee’s per user and high throughput.
Unlike many existing blockchains that experience high gas fees and bottlenecks in the rate of transactions, DuckChain has a solution that is applicable to both little and large scale projects. Its strong architecture makes it easy to use decentralized applications (dApps) on it as well as interact with other blockchain networks, and this level of interoperability is what makes it a serious contender in the blockchain space.
The funding by Dao5 and Tandem by Offchain Labs attests to the growing need for more effective and efficient blockchain frameworks to meet the increasing needs of the web3 landscape. DuckChain improves its platform and encourages innovation with events such as the Yellow Duck Mission Global Hackathon, which positions it well for the upcoming waves of decentralized technology.
Future Plans of DuckChain.
The feeling is that DuckChain will be able to gain new markets and penetrate more industries as a result of the $5 million investment, and also recruit new workers and move faster in development of its products. As an exchange that is constantly in pursuit of innovation, the hackathon is expected to be the driving force for the next generation of decentralized applications based on the DuckChain blockchain technology.
In the future, DuckChain aims to create an ecosystem where developers and businesses will be able to build effective, scalable decentralized solutions.
By organizing worldwide hackathons through projects like the Yellow Duck Mission, DuckChain aims at encouraging developers all over the world to work on projects that will contribute to the integration of decentralized technologies into society .
In conclusion, with the completion of funding amounting to $5 million and the commencement of the Yellow Duck Mission Global Hackathon, DuckChain platform seems to be embarking on a promising new phase. With such reasonable backing as well as a clear vision for the future, DuckChain is set to be one of the most competitive players in the blockchain market to enhance innovation and advancement of decentralized technologies widely over the globe. With further growth of the platform its impact on the development of the future of blockchain and Web3 will be remarkable, making it a rather interesting project to observe in the upcoming years.
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